1. Read the specs and the boards
Start with what the agency has sent: the boards or script, the deliverables (lengths, versions, social cut-downs), the shoot dates or window, usage, and any must-haves such as a specific director, location or talent count. Write down every assumption you make; they become your bid notes.
2. Schedule before you budget
Days drive the budget. Work out prep, travel, shoot, and wrap days, how many locations or stages you need and whether any days are split. Every crew line and most rentals multiply by these days.
3. Build the bid section by section
- Crew (A, B): each position's days, rate, base hours and expected overtime.
- Prep and wrap, locations, props and wardrobe, studio (C to F).
- Art department (G, H): labor and build costs.
- Equipment and media (I, J).
- Director's fees and talent (L to N): creative fee, cast, agency fees and payroll handling.
- Travel (O) if anyone leaves town.
- Post (Q to X) if you are bidding editorial and finishing too.
Starting from the AICP-format template means every line is already there with its standard number. Hide the lines you do not need rather than deleting them.
4. Set the markups
Fringes on payroll, then the production fee and insurance on the sections they apply to, talent agency fees, and any handling on expenses. What each one covers, and the rates the template starts from: production fee and markups. Check each against the agency's cost consultant guidelines if they have them.
5. Write the notes
Bid notes say what the number includes and what it does not: the shoot days, hours, union status, usage, number of deliverables, and contingencies such as a weather day. Good notes win arguments later. See bid notes.
6. Review, send, revise
Read the top sheet the way the agency will: is each section in proportion to the job? Send an AICP-format PDF, take the revisions, and keep each version as a snapshot so you can always show what changed.
7. Lock it and track it
When the job is awarded, lock the bid. From then on the approved numbers do not move, and every purchase order, payroll entry and petty cash envelope is posted against them. See budget vs actuals.